Deere & Company (NYSE:DE) Receives $642.98 Average PT from Analysts

Shares of Deere & Company (NYSE:DE) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $641.9750.

A number of brokerages recently issued reports on DE. Robert W. Baird lowered their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research note on Friday. Oppenheimer reiterated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Finally, Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st.

Deere & Company Price Performance

Shares of DE stock opened at $608.73 on Wednesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market cap of $164.32 billion, a P/E ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90. The business’s 50 day moving average price is $603.23 and its 200-day moving average price is $588.27.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the business earned $6.64 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

Institutional Investors Weigh In On Deere & Company

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Deere & Company during the 2nd quarter valued at about $11,763,504,000. Norges Bank purchased a new position in Deere & Company in the fourth quarter worth about $1,715,633,000. Capital World Investors lifted its stake in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Deere & Company in the second quarter worth approximately $1,259,279,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after buying an additional 1,893,972 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.